Torm

Following TORM's Q1 2026 interim report, we have updated our investment case on the company. Our updated investment case covers the key investment reasons, risks, and valuation perspective relative to peers across the international product tanker space, including pure-play operators in the Nordics, the US and Southern Europe.

Today, we have updated our research on TORM, one of the world's largest product tanker companies with a fleet of 93 vessels transporting refined oil products such as gasoline, diesel, and jet fuel across global trade routes. The company operates primarily in the spot market through its integrated One TORM platform, which consistently delivers market-leading freight rates per vessel.